Ato Forson rules out new loans to fund New Economy Programme
By Emmanuella Erica Bruce Finance Minister Dr Cassiel Ato Forson has ruled out additional government borrowing to finance the proposed New Economy Programme, saying the initiative will rely on increased domestic revenue and savings from fiscal consolidation. The programme is expected to receive an annual allocation equivalent to 1.5 per cent of Ghana’s Gross Domestic […]
Finance Minister Dr Cassiel Ato Forson has ruled out the need for additional government borrowing to fund the proposed New Economy Programme, stating that it will rely on increased domestic revenue and savings from fiscal consolidation. The programme, which is expected to receive an annual allocation equivalent to 1.5 per cent of Ghana's GDP from 2027 to 2030, is projected to reach at least US$13 billion over the four-year period.
The funding will be sourced through two fiscal measures: allocating 0.5 per cent of GDP from government revenue and reducing the primary surplus target from 1.5 per cent to 0.5 per cent of GDP.
Brief written by urgent.news from GBC Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
